Due to the ongoing dollar shortage, the Bangladesh Petroleum Corporation (BPC) is struggling to pay its outstanding dues, which amount to nearly half a billion dollars to six of its suppliers. Vitol Asia Private Limited, a Singapore-based supplier, is BPC’s largest creditor, with $236.28 million owed against 11 invoices.
Other creditors include Malaysia’s Petco Trading Labuan Company Limited (PTLCL), owed around $22 million; the UAE’s Emirates National Oil Company (ENOC), owed approximately $57 million; Indonesia’s PT Bumi Siak Pusako, owed around $47 million; Indian Oil Corporation Limited, owed about $34 million; and Unipec Singapore Private Limited, owed $64 million.n As of August 1, BPC’s outstanding dues stood at $504 million, which increased to $533 million by August 15, a rise of $29 million in just 13 days. However, some payments have since been made, reducing the outstanding amount to $483 million. BPC officials attribute the delay to a forex crunch in banks, hindering their ability to pay in dollars.
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